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New India-focused Angels

With entrepreneurship becoming cool in India, a couple of India-focused Angel funds have been announced in the past few days. The India Internet Group and the Harvard Business School Angels of India are aiming to invest in India-based, early stage tech start-ups.

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A new startup accelerator called the India Internet Group (IIG) is debuting today as fund to invest in India-focused, early stage internet and mobile startups. The size of IIG is $2.5 million and with an average investment size of $50,000 to $250,000.

There are also several other Angel investors who are starting to have a good look at the emerging tech scene in India.

Harvard alumni Raj Chinai and Ramesh Shah, in collaboration with Harvard University, have recently co-founded and launched Harvard Business School Angels of India (HBSAI), an India-centric angel investing organisation. Incidentally, HBSAI happens to be the country’s first international angel network. It was first started with a Northern California chapter in 2007 and is currently present in nearly half a dozen countries across the globe.

While the group is sector-agnostic, it is likely to have a skew towards technology and technology-enabled start-ups, and will invest approximately $250-500K per deal.